Wedgewood Investors Inc. PA grew its stake in shares of AT&T Inc. (NYSE:T) by 1.3% during the 1st quarter, HoldingsChannel reports. The fund owned 30,065 shares of the technology company’s stock after buying an additional 400 shares during the period. AT&T comprises 1.1% of Wedgewood Investors Inc. PA’s portfolio, making the stock its 26th biggest holding. Wedgewood Investors Inc. PA’s holdings in AT&T were worth $910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. increased its stake in AT&T by 32.7% in the fourth quarter. Westside Investment Management Inc. now owns 25,879 shares of the technology company’s stock valued at $267,944,000 after acquiring an additional 6,382 shares during the last quarter. Seelaus Asset Management LLC boosted its holdings in shares of AT&T by 106.3% during the fourth quarter. Seelaus Asset Management LLC now owns 39,241 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 20,216 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of AT&T by 50.1% during the fourth quarter. Illinois Municipal Retirement Fund now owns 132,087 shares of the technology company’s stock valued at $3,799,000 after acquiring an additional 44,059 shares in the last quarter. Cibc World Markets Corp lifted its stake in AT&T by 31.5% in the 4th quarter. Cibc World Markets Corp now owns 2,379,426 shares of the technology company’s stock worth $68,432,000 after purchasing an additional 570,162 shares in the last quarter. Finally, Financial Advocates Investment Management lifted its position in shares of AT&T by 47.5% in the 4th quarter. Financial Advocates Investment Management now owns 198,256 shares of the technology company’s stock worth $5,702,000 after purchasing an additional 63,812 shares during the period. 51.17% of the stock is currently owned by hedge funds and other institutional investors.
T has been the subject of several analyst reports. Credit Suisse Group decreased their price target on shares of AT&T from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of AT&T from $31.00 to $34.00 in a report on Wednesday, April 28th. CIBC restated a “buy” rating on shares of AT&T in a research report on Wednesday, February 10th. Oppenheimer reiterated a “hold” rating on shares of AT&T in a research report on Monday, April 26th. Finally, Barclays increased their target price on AT&T from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, April 23rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $31.43.
T stock traded up $0.19 on Tuesday, reaching $31.69. 932,783 shares of the company’s stock were exchanged, compared to its average volume of 43,032,539. The stock has a fifty day moving average of $30.38 and a 200-day moving average of $29.19. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.78. The firm has a market cap of $226.01 billion, a PE ratio of 20.91, a P/E/G ratio of 3.04 and a beta of 0.70. AT&T Inc. has a twelve month low of $26.35 and a twelve month high of $33.24.
AT&T (NYSE:T) last posted its earnings results on Wednesday, April 21st. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.08. The business had revenue of $43.90 billion during the quarter, compared to analyst estimates of $42.69 billion. AT&T had a return on equity of 12.27% and a net margin of 6.42%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. On average, equities research analysts predict that AT&T Inc. will post 3.17 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Stockholders of record on Friday, April 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, April 8th. This represents a $2.08 annualized dividend and a dividend yield of 6.56%. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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